Mumbai is world’s 10th top biz hub

Driven by high trading volumes for equities and good presence of global banking and financial services firms, Mumbai has grabbed a place in the world’s top ten financial flow hubs list, beating Hong Kong and Beijing in China.

The city has been ranked tenth among the world’s biggest centres of commerce in terms of the financial flow volumes by a Mastercard Worldwide survey, which took into consideration the size of financial services network, besides equity, bond, derivatives and commodity contract transactions.

“The Asia Pacific, Middle East and Africa (APMEA) region boasts of three cities which got included in the premier league – Tokyo, Seoul and Mumbai due to their high trading volumes in bonds and equities,” Mastercard Worldwide said in its first Worldwide Centres of Commerce Index study. The list, lead by London and New York on the first two slots, include two other Asian cities – Tokyo at fifth and Seoul at sixth position.

http://www.dnaindia.com/report.asp?NewsID=1104261
 
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